A website is selling silver coat racks for $792. The site got the silver coat racks at a cost of $300. What is the mark-up, as a percentage?
Write your answer using a percent sign (%).
The mark-up can be calculated by subtracting the cost from the selling price and then dividing the difference by the cost:
Mark-up = (Selling price - Cost) / Cost
In this case:
Mark-up = ($792 - $300) / $300
Simplifying the expression:
Mark-up = $492 / $300
Calculating the value:
Mark-up = 1.64
Therefore, the mark-up as a percentage is 164%.